Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii

AVOCET MINING PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

X

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation: iii

Bank of America Corporation

4. Full name of shareholder(s)

(if different from 3.):iv

Merrill Lynch International

5. Date of the transaction and date on which the threshold is crossed or reached: v

07th December 2016

6. Date on which issuer notified:

09th December 2016

7. Threshold(s) that is/are crossed or reached: vi, vii

Above 5%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00BZBVR613

Below notifiable threshold

Below notifiable threshold

0

0

989,144

0

4.732%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial

Expiration

Exercise/

Number of voting

% of voting

instrument

date xiii

Conversion Period xiv

rights that may be

rights

acquired if the

instrument is

exercised/ converted.

Right to Recall Securities

N/A

N/A

97,510

0.466%

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

xv, xvi

Resulting situation after the triggering transaction

Type of financial

Exercise

Expiration

Exercise

Number of

% of voting rights xix, xx

instrument

price

date xvii

/

voting rights

Convers

instrument

ion

refers to

period

xviii

Nominal

Delta

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

1,086,654

5.198%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi

Merrill Lynch International - Above trading book exemption threshold

Voting Rights

%

MERRILL LYNCH INTERNATIONAL

1,086,654

5.198%

Total

1,086,654

5.198%

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

Harshini Gopa

15. Contact telephone number:

0207 996 3410